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  • News in Vietnam
  • 6 September 2022

Inflow of FDI capital into Binh Duong in 8 months increased by 72% over the same period

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In the first eight months of 2022, Binh Duong province attracted USD2.56 billion in FDI, rising 72% over the same period of 2021.

On the afternoon of August 30, Binh Duong province held a press conference addressing the provincial socio-economic situation in August 2022. Especially, the indexes of industrial production, export turnover, and foreign investment attraction of Binh Duong province in the first 8 months of the year significantly heightened over the same period.

During 8-month period, the province’s industrial production index increased by 0.7% compared to the previous month and by 19.9% ​​over 2021. Accumulating 8 months of 2022, this index has grown by 8,4% over the same period.

The province’s export turnover is estimated at USD2.9 billion, climbing up 1.5% over the previous month and 53.5% over the same period in 2021. Accumulating in 8 months, the province’s export turnover hit more than 24 billion USD, a gain of 7.8% compared to last year.

In the first 8 months of the year, Binh Duong province has attracted 35 million USD of foreign investment capital with 9 projects. Cumulatively, in 8 months of 2022, the province has attracted 2.56 billion USD, a 72% gain over 2021.

Binh Duong has always been one of the most attractive option for investors when pondering a destination for large-scale project investment. Typically, there are toy car factory of Lego Group (Denmark) with an investment of 1 billion USD in Vietnam – Singapore Industrial Park III, the jewelry factory of Pandora Group (Denmark) invested 100 million USD, just to name a few.

Up to now, Binh Duong province has had 4,063 FDI projects from 65 countries and territories with a total registered capital of 39.5 billion USD. The province is currently ranked 2nd in the country in terms of attracting foreign investment, after Ho Chi Minh City.

According to leaders of Binh Duong, the province has been able to attract large FDI projects in recent years thanks to its constant improvements in investment environment, reformations of administrative procedures, and the enhancement of competitiveness to create an open and attractive investment environment.

Binh Duong province continues to lead the Southeast region and the Southern key economic region and ranks 6th in the country, according to the ranking results of provincial competitiveness index (PCI) in 2021.

Currently, Binh Duong province prioritizes attracting investment in high-tech, advanced, environment-friendly, less labor-intensive, high-value-added industries and sectors, especially attracting investment in Science and Technology Industrial Park on the basis of industry 4.0 platform.

Setting a target of attracting more than 9 billion USD during 2020 – 2025, in the beginning months of 2022, Binh Duong province has seen positive signals for the province to achieve and exceed the proposed target. Source: Baodautu